Red Rock Resources Share Discussion Threads

[atino] 25/7/2014 19:59

...Im goin out to 'dinner' now Kez...(but you KNOW...'atino' aint the one to runaway *__^)

So post what you 'may'...(and I'll pick up on it...later:-)

[atino] 25/7/2014 19:10

Ahhh...there you are Kez...posting here (& hiding *__^)...instead on RGM, when it NEEDS you???

(Join me over at RGM, old friend - I have my own thread there Kez ! LOL:-)


Like the 'Greatest Fighter' that ever lived (Mohammand Ali) said: "Thrilla in Manila" (...or as in YOUR CASE Kez..."Thrilla in Halmahera" !)) ....PMSL



[...'My Atino'...is gonna 'ENJOY' THIS *__^ :-]]] .......hahaha:-))

[soulsauce] 25/7/2014 18:17

Atinos auntie Ettie 18 Jul'14 - 18:07 - 5169 of 5212 0 0

A few presumed the buyer had gone away but that was not so, they remain seated at the bargaining table. That is good news. The timing has elongated as the prior expectation of two months is insufficient and requires two more months. A further period beyond is undesirable and should not be entertained. Much like Regency Mines it is shaping up to be a summer of anticipation!

LOL!!

[atino] 25/7/2014 15:20

...I think you'll find...thats the 'dangling carrot' (...for would be...'gullible' investors Soul, LOL) *__^

[digger27] 25/7/2014 15:17

Approached by alternative comedians more like.

[soulsauce] 25/7/2014 15:12

The company also told investors it has also been approached by alternative buyers.

LOL!!

[atino] 25/7/2014 15:07

[Quote] "Red Rock extends exclusivity phase for Colombia asset sale"

Red Rock Resources (LON:RRR) has extended the exclusivity period for the potential sales of its Colombian interests.

The buyer, Nicaragua Milling Company, has until August 11, though this can be extended further to September 10 if the company is paid a non-refundable US$50,000 fee.

Should the additional exclusivity period be activated then the transaction would be expected to close on or around October 10.

"We have recently been in daily contact with NMC to progress this transaction," said chairman Andrew Bell.

"NMC intend to send a metallurgist to the visit the plant in the next two weeks, and following that report we should have a good idea of the remaining timeline for completion.

"Both parties remain committed to achieving this end."

The company also told investors it has also been approached by alternative buyers.

hxxp://www.proactiveinvestors.co.uk/companies/news/70714/red-rock-extends-exclusivity-phase-for-colombia-asset-sale-70714.html

[knoblet] 25/7/2014 14:21

How stupid does the bumbling idiot in a buffoons clothing aka Bell think we are? It's time he was hung out to dry.... by his ghoolies.

[hopeless698] 25/7/2014 13:49

It's so obvious this deal won't go through!!!

[atino] 25/7/2014 13:16

Good to get some clarification (and we've got a deadline too *__^)

...but it does make you think though...(if 'both' NMC & Ashmont were THIS thorough in conducting their Due Diligence)...then 'why' [the hell!] weren't we too, in the FIRST PLACE (...to avoid this 'mishap'!!!)

[ciao4niao] 25/7/2014 12:25

And why didn't they think of sending a metallurgist to the plant a helluva lot sooner?

If it looks like a fish, and smells like a fish, it's going to stink to high heaven when placed under the bright lights of scrutiny.

[on target] 25/7/2014 12:17

"NMC intend to send a metallurgist to the visit the plant in the next two weeks"

So what aren't we being told?

[ciao4niao] 25/7/2014 12:14

RNS re Colombian LOI extention.

No surprise there then!

Back to sleep until October. Yawn

[richie1218] 22/7/2014 21:28

I'm hoping all the Geos are working for RGM/RAM and RRR has got reduced outgoings atm.

[bam bam rubble] 22/7/2014 15:41

After converting the rest of the loan notes (which result in nil cash inflow)
RRR only has the authority to raise £300,000 going by the last placing price.
An EGM to request renewed authority looks likely around early September time.

[600m authorised for issue in 2014]
- 27m issued under staff share scheme
-211m placings (raised £695k gross)
-115m converted half of loan note
-115m to convert remaining notes at last placing price

=132m left, enough for one £300k placing or two small ones

[hopeless698] 22/7/2014 14:55

It's coming up to that time of Month again!!!

Dilution Time, wages to pay, overheads to pay, were skint again etc. etc.

[atino] 21/7/2014 21:39

[Soul..."my man" ^__^]...I loved the MK2 model...and even the XR3i's TBH:-)

[...I used to pinch the old man's key at night...and take the motor...for a quick spin around the block, when he was fast a sleep:-] hahahah (oh the good old days Soul... *__*)

[soulsauce] 21/7/2014 19:29

Yes Atino the Capri was a looker in the 70s & 80s, a bit like me ;-)

[bam bam rubble] 21/7/2014 16:52

"We are working with NMC to deal with any remaining issues they may have"

'remaining issues' as opposed to just 'issues'. In other words the buyer seems
to have had some issues already either onsite or maybe unearthed after gaining
access to Four Points Mining's accounts. Those issues could affect whether the
deposit is refundable, which ties in with the buyer looking to amend the terms.


A break-up fee or deposit is often tied into operational restrictions lasting
from the letter of intent until the transaction closes/cancels, for example a
provision that the asset remains operating in the ordinary course of business
with restrictions on cash outflow. A buyer will negotiate circumstances where
the deposit is refundable such as if financial results are below expectations.
www.mckennalong.com/media/site_files/1634_M_A%20Quick%20Reference%20Guide.pdf

[knoblet] 21/7/2014 15:46

Quote from the RNS

" We are working closely with NMC to deal with any remaining issues they may have during this period."

Probably discussing how to monitor the workers socks after a sweaty day down t'pit and the definition of crusher.

[bam bam rubble] 21/7/2014 13:04

"Reverse break fees: In return for an exclusivity period a potential buyer agrees
to pay a 'break fee' if they elect not to continue with the transaction. This way
the party pulling out pays some of the other party's costs, usually advisory fees.
In the UK legal restrictions mean break fees cannot exceed 1% of the offer price."
www.iflr.com/Article/2027906/Overview-Break-fees-an-international-perspective.html

The offer price for RRR's 100% interest in American Gold Mines Ltd. is $5,000,000
with total break fees restricted under current regulations to 1% of that, $50,000.
Therefore the reference in the RNS to 2 rounds of $50,000 payments can't be right.

Furthermore the $50,000 wouldn't go to RRR but to the advisor Aerial Partners LP.